Skillful saving avenues for your vacation trips
Posted on: 16/Apr/2018 6:07:06 PM
Most of the people do not include the vacation trip expenses while making their yearly budgets. However, it is wiser to include this expense while making the budget. It would be helpful to prepare and allocate the budget for the vacation trips while making the annual budget.
This would prevent taking loans for this purpose and also we can plan the trip according to the budget and enjoy the vacation trip to the best!
Travel fund – There are some benefits in making a special fund allocation for the vacation trips. In case sufficient funds are available, it would be better to keep a watch on the various concessional offers on this and register one of them. This would prevent taking loans as well as resolve any doubts whether the funds on hand are sufficient.
How to save – It is better to start saving for the next yer’s or even next-to-next year’s travel plans right now. It is better to start saving even for the short-term trips at least a few months earlier.It is better to keep a fixed amount per month as saving for this purpose. This can be in the banks` savings account as well or even as a recurring deposit.
How much to save – This depends on the selection of a place to visit and the time planned to be spent on the vacation trip. The amount to be saved should be chosen based on these 2 issues. In case a tidy sum is available on hand, it is better to invest the same in Provident Fund or ‘Liquid Fund’ systems. There will be additional funds from this method.
For those who do not have the habit allocating special savings for this, it would be rather difficult to keep aside a fixed amount for this purpose. So, it would be better to monitor the monthly expenses planned and avoid a few unnecessary expenses and release that part of the savings for vacation trips. This would also enhance the monthly budget for the right purposes.
Travel experience - It is better to consider the vacation trips as a part of the important expenses. Do not look at it as a source of wasteful expenditure. The trips may be heart-cherished experiences worthy of enjoyment and remembrance. In fact, it is even better to accord a better priority for this. The freshness of the vacation and the positive experience will reduce the tension on other fronts.
